Sector: Industrials|Industry: Waste Management|Market Cap: $63.71B|Employees: 41K
Republic Services, Inc. is one of the largest providers of environmental services in the United States and Canada. The company's core business model revolves around collecting, recycling, and disposing of waste materials, including solid, industrial, and hazardous waste. They operate through a vertically integrated platform with a strong geographic presence across North America, focusing on sustainable solutions and leveraging their digital capabilities to enhance customer experience.
The company's revenue increased by 10.8% year-over-year, reaching $14,964.5 million, primarily due to a 6.1% increase in average yield, a 4.8% contribution from acquisitions and a 0.5% increase in volume. However, recycling processing and commodity sales decreased revenue by 0.5% and fuel recovery fees decreased by 0.2%.
Operating income increased to $2,780.2 million, up from $2,391.7 million in the prior year, reflecting improved profitability. However, the company also incurred $33.2 million in restructuring charges.
Net income attributable to Republic Services, Inc. increased to $1,731.0 million, up from $1,487.6 million in the prior year. Diluted earnings per share was $5.47 compared to $4.69 in 2022. This is despite a $4.5 million charge related to a withdrawal from a multiemployer pension fund.